Equipped Bar and
New
For Sale
$990,000
217 W Hopkins St, San Marcos, TX 78666
Operating bar and restaurant venue with kitchen equipment, refrigeration, furnishings, and live music capability.
Property Size1,604 SF
Days on Market2
Property Features for 217 W Hopkins St
General Information
Standard status
Active
Size
1,604 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$7,677
Building Details
Building Size
1,604 SF
Listing Agency:
eXp Realty, LLC
Listed By:
Matthias Thiele · License #0709812
(512) 921-3599
Source:
Elliman
Added: Sep 18
Last Checked: Sep 19 at 10:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty, LLC
Investment Insights
Based on property information with market context.
This bar and pub property also functions as a restaurant and live music venue. The premises are equipped with a full bar, full kitchen, several refrigerators, and existing furniture, supporting continued food-and-beverage operations. The property is described as income producing and is offered with its operating equipment in place.
The site is located at 217 W Hopkins St in downtown San Marcos, blocks from the Texas State University campus. Access is available by foot, bicycle, and car. Walk Score is 59, classified as Somewhat Walkable, and Bike Score is 53, classified as Bikeable.
The site is located at 217 W Hopkins St in downtown San Marcos, blocks from the Texas State University campus. Access is available by foot, bicycle, and car. Walk Score is 59, classified as Somewhat Walkable, and Bike Score is 53, classified as Bikeable.
Key Highlights
- Bar, tavern, restaurant, and live music venue
- Full bar and full kitchen included
- Several refrigerators and existing furniture convey
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,261
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$605,220
$605.2K
Cap Rate 7%
$432,300
$432.3K
Cap Rate 9%
$336,233
$336.2K
Market Conditions
NOI Build-Up for 1,604 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.8K $26.04/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$40.3K $25.15/SF
− OpEx
−$10.1K −$6.29/SF
NOI
$30.3K $18.87/SF
Area
Hays County, TX
Vacancy
3.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$605,220
Cap Rate 7%
$432,300
Cap Rate 9%
$336,233
Alternative Uses
Best Use
Specialty Retail
$432.3K
$378.3K – $504.4K
NOI $30,261 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$670.5K
$586.7K – $782.3K
NOI $46,936 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,876
Businesses Nearby
169k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Groceries 29%
Shops & Services 25%
Home Improvements & Furnishings 3%
H-E-B
Groceries
49,167 visits/mo
0.3 miles
Taco Bell
Dining
22,630 visits/mo
0.2 miles
Exxon
Shops & Services
13,361 visits/mo
0.2 miles
Chipotle Mexican Grill
Dining
10,993 visits/mo
0.2 miles
Jack in the Box
Dining
10,223 visits/mo
0.1 miles
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Operating bar and restaurant venue with kitchen equipment, refrigeration, furnishings, and live music capability.
Where is this bar & pub located?
The property is located at 217 W Hopkins St San Marcos, TX.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Bar, tavern, restaurant, and live music venue; Full bar and full kitchen included; Several refrigerators and existing furniture convey
